Shareholders Foundation, Inc.

Lawsuit for Investors Against Takeover of Medivation Inc (NASDAQ:MDVN) Filed

A lawsuit was filed for investors in shares of Medivation Inc (NASDAQ:MDVN) in connection with the proposed takeover was announced and NASDAQ:MDVN stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 09/12/2016 -- The Shareholders Foundation announced that an investor who currently holds shares of Medivation Inc (NASDAQ:MDVN), filed a lawsuit against the proposed takeover of Medivation Inc by Pfizer Inc. for $81.50 per share.

Investors who purchased shares of Medivation Inc (NASDAQ:MDVN) and currently hold any of those NASDAQ:MDVN shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.

August 22, 2016, Pfizer Inc. and Medivation, Inc. (announced that they have entered into a merger agreement under which Pfizer will acquire Medivation for $81.50 a share in cash for a total enterprise value of approximately $14 billion.

However, plaintiff claims that the proposed consideration NASDAQ:MDVN shareholders will receive is grossly inadequate and undervalues Medivation. Indeed, at least one analyst set the high target price for NASDAQ:MDVN at $82.00 per share. Furthermore, Medivation Inc reported that its annual total Revenue rose from $272.94 million in 2013 to $943.26 million in 2015 and that its Net Loss of $42.61 million in 2013 turned into a Net Income of $244.72 million in 2015. In addition, the plaintiff alleges that the process is also unfair to NASDAQ:MDVN stockholder.

Shares of Medivation Inc (NASDAQ:MDVN) closed on September 9, 2016 at $80.81 per share.

Those who are current investors in Medivation Inc shares have certain options and should contact the Shareholders Foundation.